Light Commercial Vehicle values (LCV) averaged £9,452 in December 2022, as buyers continued to source stock right through the festive period, according to vehicle remarketing services provider BCA.
BCA staged four days of sales between Christmas and the New Year and reported the busiest festive trading period on record as customers competed strongly for stock offered via BCA Online and purchased direct through BCA Bid Now, Buy Now.
The month-on-month figures fell by £462 (4.8%) in December 2022 compared to November, largely driven by a change in the model mix. Performance against guide prices remained strong, averaging 98.8% during December, an improvement of 0.4 of a percentage point compared to November.
Looking in detail at the weekly values shows that average values were above £10,000 early in December, with continuing demand for any vehicle that could be put to work quickly. Average values declined as the stock profile changed later in the month, with a greater percentage of older, higher mileage LCVs in the mix.
Stuart Pearson, BCA COO UK, said: “The overall picture from the LCV market during 2022 saw a return to more seasonal trading patterns as the constraints imposed by the pandemic eased. Whilst there were short spells during the year where supply and demand were not quite in sync, generally, the wholesale LCV market remained well-balanced and average values in December reflected this.”
Pearson added “BCA’s ongoing refinement of its online LCV sales program continues to provide more choice for our customers and make it easier for buyers to access more of the stock that they’re interested in. By selecting and segmenting similar makes, models and values in our daily online sale programmes, we can ensure the right stock is presented to the right buyers at the right time.”
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“We serve an active buyer base of over 6,000 trade customers – the largest in the industry and more than twice the size of our nearest competitor – with the greatest volume and widest range of used LCVs in the UK wholesale market. We remain laser-focused on developing our sales programme and online services to ensure that we have more of the right stock to meet our customer’s needs.”
Pearson said: “Whilst the new LCV market continues to face the challenges of the ongoing supply chain issues and a shift towards alternative fuel types, BCA’s online LCV programme continues to be the best and most reliable source of stock for professional buyers.”